DJ Brazil JBS To Buy Feedyard In US For $24 Million

Brazil's JBS SA, the world's largest beef producer, agreed to buy McElhaney Feedyard in Arizona, for around $24 million, the company said in a statement late Wednesday.

"This feedyard has a one-time capacity to feed 130,000 head of cattle and is strategically located in the region of the JBS production facility in Tolleson,
also in the state of Arizona," said JBS.

The transaction includes the purchase of 100% of the asset, including yards and feed mill. It is subject to the customary regulatory approvals.

"We are very pleased with the proposed acquisition of this state-of-the-art installation through which we can liaise with local producers and ranchers to provide feed service for their cattle and customize the animal diet to suit the needs of our many customers not only in the US but around the world," said Wesley Batista, head of JBS's U.S. operations. "As I have said previously, we are strong believers in the US livestock community and we will continue our efforts to bring efficiencies to the sector for the benefit of all."